News
FRENCH - Cleary Gottlieb strengthens team
Cleary Gottlieb Steen & Hamilton LLP has appointed Claudia Annacker as a partner at the firms Paris office.
ITALY - Marsh appoints CEO
Insurance broker and risk manager Marsh has appointed Flavio Piccolomini as CEO of its Italy office while Emanuele Cordero di Vonzo was named general manager.
GERMANY - Buyout groups circle Candover and Cinven's Springer
According to press reports, Candover and Cinven, the owners of Springer Science and Business Media, are making progress on divesting a minority stake in the business for about EUR 400m, with several major buyout houses said to be interested in a possible...
SWITZERLAND - Newfund makes maiden investment in Learnissimo
Newfund has made its first investment: purchasing a minority stake in Learnissimo, an e-learning company.
GERMANY - BVK elects new executive board and agrees code of conduct
The Bundesverband Deutscher Kapitalbeteiligungsgesellschaften (BVK) has elected a new executive board and agreed on a new code of conduct for members.
UK - Finance Wales et al. launch £150m fund
Finance Wales plc, the Welsh Assembly Government and the European Investment Bank have launched a new £150m commercial investment fund to support the growth of businesses in Wales.
GERMANY – Quadriga-backed Tectum acquires Alex & Gross
Quadriga Capital portfolio company Tectum Group, a call centre operator, has acquired sector rival Alex & Gross Group from the management and EKK Dr Engelhardt, Kaupp and Kiefer Unternehmensbeteiligungen GmbH.
GLOBAL - HarbourVest closes secondary fund on $2.9bn
HarbourVest Partners has held a final close of Dover Street VII LP, a global secondary fund, on $2.9bn.
GERMANY - Stargate Capital acquires Gehring Group
Investment firm Stargate Capital has acquired specialty machines manufacturer Gehring Group from insolvency.
EUROPE - Investment continues downward slide
The retrenchment of the European private equity industry has reached troughs not seen since Q3 1996, according to the unquote" Q1 2009 Private Equity Barometer, produced in association with Candover. It reveals that the total value of transactions fell...
RUSSIA - CapMan acquires remainder of Norum
Finnish investor group CapMan plc has acquired the remaining 49% of shares that it did not already own in Russian private equity house Norum, which operates as CapMan Russia.
UK - 3i and Doughty further invest in Garlik
3i and Doughty Hanson Technology have led a £1.6m series-C funding round for online identity company Garlik, alongside management and individual investors.
CZECH REPUBLIC – ARX acquires Lexum with debt from LBBW
ARX Equity Partners has wholly acquired Czech opthamology clinic operator Lexum Group. The deal was backed by senior debt from LBBW Bank in the Czech Republic.
UK - NWBIS invests in EA Technology Ventures
North West Business Scheme (NWBIS), managed by YFM Private Equity, has invested an undisclosed sum into funding vehicle EA Technology Ventures, part of the EA Technology Group.
UK - Acton et al. invest £10m into Glasses Direct
Acton Capital Partners has led a £10m second round of funding for prescription glasses retailer Glasses Direct, alongside return backers Index Ventures and Highland Capital Partners.
FRANCE - ING Parcom PE recruits associate
ING Parcom Private Equity has recruited Vincent Warlop as an associate.
FRANCE - Finama PE becomes Groupama PE
Finama Private Equity, a subsidiary of Groupama, has changed its name to Groupama Private Equity.
FRANCE - Avenir and SocGen support Capitaine Fracasse MBI
Avenir Entreprises and Société Générale Capital Partenaires have purchased an equal minority stake in boat restaurant operator Capitaine Fracasse in an MBI deal alongside manager Olivier Jamey.
FRANCE - Acto Capital strengthens team
Acto Capital, an investment arm of Groupama Priavte Equity, has recruited four new people to its investment team.
SPAIN - Vector and Suma acquire GEC
Private equity firms Vector Capital and Suma Capital (backed by Privat Bank) have acquired education consultancy GEC from Universitat Oberta de Catalunya (UOC) and La Caixa.
BELGIUM - PE drops out of Alpro auction
Reports suggest that the private equity firms initially interested in acquiring Alpro, the soy division of Gimv-backed Belgian food group Vandemoortele, have withdrawn form the process leaving only trade buyers in the auction.
GERMANY - Target Partners backs Scoreloop
Target Partners has provided an undisclosed seed investment to software company Scoreloop AG.
BELGIUM - Gimv leads EUR 3m Eclipse investment
Gimv has invested EUR 2m as part of a EUR 3m series-A funding round for software business Eclipse International NV, alongside the Vlaamse Innovatiefonds Vinnof (Flemish Innovation Fund) and management.
UK - BVCA slams Budget
The British Private Equity and Venture Capital Association (BVCA) has reacted angrily to Alistair Darling's 2009 Budget, with chief executive Simon Walker claiming that the increases to the top rate of income tax "effectively end Britain's competitiveness".